SBA elaborates on PPP loans for small businesses

April 6, 2020

The U.S. Small Business Administration (SBA) recently issued an interim final rule for the Paycheck Protection Program (PPP) that offers $349 billion in forgivable loans to small businesses impacted by COVID-19for costs, including payroll and rent.

The AICPA is currently in communication with banking leadership from the American Bankers Association, national banks and others who are supportively working on a statement.

Tax professionals can read the AICPA's statement on CPAs as Agents for PPP applications and watch the YouTube video from AICPA CEO Barry Melancon and CPA.com CEO Erik Asgeirsson for the latest on the program.

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